Growing Metro Orlando’s Economy

Orlando’s downtown population has grown at a faster rate than other downtown metro areas in Florida, 34.2 percent. And while growth was impressive in Tampa, Miami and Jacksonville, Orlando’s was twice as strong.

A recovering economy, citycenter growth across the state, along with record tourism, has impacted retail spending in a big
way, the study revealed. During the 12-month period ending June 2014, sales totaled $6.1 billion, 8 percent
higher than the total as of June 2013. And there were no signs of slowing. During the second quarter, retail sales were up 9 percent compared to Q1. Retail is growing Metro Orlando’s economy.

With the study concluding that Metro Orlando has one of the fastest-growing economies in Florida, a mega transaction in August serves as proof. MetLife Inc. spent more than $116 million to acquire The Loop, a 435,000-square-foot outdoor retail center in Kissimmee— described by one market insider as “one of the highest quality retail investment opportunities in the Southeast.”